Giant Altcoin Whale Admits Defeat: Sold It All at a Loss!

There has been a remarkable development in the crypto market. Onchain data reveals that a large altcoin whale has sold a token he has held for a long time and withdrawn from the market. Despite millions of dollars in losses, this whale suffered a serious loss by selling ONDO tokens.

Whale's Losses and Altcoin Price Movements

The sale was made at an average price of $0.76 and generated a total of $1.72 million in revenue. However, this sale caused the whale to exit the market at a significant loss. According to the data, the whale had previously purchased ONDO tokens for $1.39 for 843.9 ETH. The whale, which purchased a total of 2.28 million ONDO tokens, suffered a major loss with these sales. The losses experienced by this giant whale are quite remarkable. As a result of its sales, the whale lost a total of $1.48 million.

When considered proportionally, this loss corresponds to 46%. The whale had held ONDO tokens for a period of 3.5 months. However, when the prices did not show the expected increase, he gave up his tokens with this loss. The altcoin price increased by 2.55% in the last week. However, this increase could not compensate for the whale's loss. In the last month, the ONDO token gained 11% in value. Despite the whale coming out with this loss, the token's short-term upward movement attracted attention in the market.

ONDO Token and RWA Themed Altcoin Projects

As we reported at Kriptokoin.com, the ONDO token stands out as an altcoin based on real-world assets (RWA) in the Ethereum ecosystem. Such altcoin projects have attracted great interest in the crypto world, especially recently. Projects that combine real-world assets with blockchain technology have been welcomed by investors. In addition, ONDO has also caught a significant upward trend by benefiting from this interest and hype.

The ONDO token has increased by 355% in the last year. This increase is considered to be a result of the increasing interest in RWA-themed altcoin projects. ONDO being a prominent project in the Ethereum ecosystem is among the factors supporting this growth process. However, although the project is growing, short-term losses can be experienced for large investors such as whales.

The Role of Whales in the Market

Whale transactions in the cryptocurrency market have significant effects on price movements. Whales' buying and selling transactions usually lead to large fluctuations in the market. This massive sell-off in the ONDO token attracted the attention of market participants. However, this sale did not affect the general trend of the ONDO token. The altcoin continued to trade at the price level at which the whale sold.

ONDO sale, despite the serious loss suffered by the whale, showed a movement independent of the general trends of the market. In addition, although the impact of whales on the market is always important, the long-term growth potential of RWA-themed altcoin projects can be a promising signal for investors.

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